Email me at Mike Emery. All financial contributions are cheerfully accepted. If you want to keep it private, use my PGP Key. Home Page
The average Englishman does not think very much about tax. He really should because he is a tax slave and being robbed blind. One reason why he does not notice is that it is deducted before he ever sees it. Another is that Her Majesty's Government raises it slowly as a percentage each year. So in good times he becomes a bit better off but most of his rightful extra earnings get siphoned off to pay for politicians, their peculiar friends and those expensive boondoggles that blow up on the launch pad or go eight lanes wide through national parks. Here is some thing on the truth.
Employers pay VAT and National Insurance on
the gross wage before the employee ever knows about it
The man gets his gross minus Income Tax and another lot of National Insurance.
He spends his money and pays another lot of VAT AND all of the supplier's
company taxes.
Or he saves his money and gets Interest minus tax AND minus Inflation.
Petrol tax is some 400% - buy one gallon and pay for another four.
Tobacco tax is in the same order.
So is booze tax.
This gives us approximately:- Add in council tax, car tax, death tax, house sales tax and
various other sneakies and you are lucky if you get out under 80% If you doubt look at
Brown and the Budget where he boasts of spending £10,900 for
every man woman and child but says nothing of how much he extorts. There are answers. One is emigrate to a less
rapacious country which is warmer. Move off shore if you are big enough. Some
people fly under the radar. This is illegal and effective. There are gypsies who do
not exist and have no records to prove it. It goes with the territory.
Frederic Bastiat
Brown Gives With One Hand And Takes With The Other [
24 November 2008 ] One tax expert described the Chancellor's
move as 'a double stealth tax'. At present, those earning below £5,464 a
year don't pay any National Insurance. Then earnings of up to £40,040
are charged 11 per cent, and any earnings on top are charged at 1 per cent.
From 2011, workers will pay 11.5 per cent at the basic rate, and 1.5 per
cent on the higher rate. And from next April the top band will match that of
income tax, expected to be £43,880. So anyone earning more than the previous
limit will have to pay the basic rate of 11 per cent on an extra £3,835 of
their earnings instead of the higher rate amount of 1 per cent.
National Insurance Rates
Truth In Taxation - A Tory Idea [
21 March 2011 ]
Real income is VAT + NI + Gross Income = Gross + 17.5% +
12.8% - so 30.3% is
wasted
Net Income = Gross - Income Tax - NI = about 10% and
9.4% so 19.4% goes
That is some 49.7%
Spending food, housing etcetera is X + VAT + company taxes + petrol tax = 17.5% +
at least 15% so another 32.5%
is extorted for a running total of 82.2%
"When plunder becomes a way of life for a group of men, they create for
themselves in the course of time, a legal system that authorises it, and a
moral code that glorifies it.”
Thus quoth Frédéric
Bastiat
QUOTE
A three-pronged assault on high earners will leave some paying 60p in tax
for every £1 they earn. A raft of income tax and national insurance rises
will strip more than £3,000 a year from the pockets of the very wealthiest
by 2011. Those with earnings of more than £150,000 a year will face a 45 per
cent income tax rate from April 2011.......
UNQUOTE
Tax the rich sounds all right except to the rich. That is a vote buying
move. The sneaky taxes are there to screw the poor and feed Brown's greed
which is unlimited. Anyone who thinks that tax is under 50% of their gross
is badly misinformed. It is nearer 80% for the average man. See
NATIONAL INSURANCE Goes Up Again
Employer 12.8%
Enployee 9.4%
Search for contributions to find the relevant tables.
QUOTE
The true rate of tax on wages includes Employer’s and Employee’s NI, as both
come out of the money required by a business to pay their staff. Employer’s NI
is paid on all income and Employee’s continues at 1% after they reach the upper
threshold
The resulting tax rates are therefore 43.8%, for basic rate taxpayers, 53.8%
for middle rate taxpayers, and 63.8% for those paying top rate tax. NI is going
up in April so you can add 2% to all these rates.
UNQUOTE
Osborne is
making a good move which is a pleasant change. This should
include the
Employer's contribution of 12.8% and the
Employee's contribution of 11%
Errors & omissions, broken links,
cock ups, over-emphasis, malice [ real or imaginary ] or whatever; if
you find any I am open to comment.
Email
me at Mike Emery. All
financial contributions are cheerfully accepted. If you want to keep
it private, use my PGP Key. Home
Page
Updated on 06/12/2012 08:28